Seychelles-based cryptocurrency exchange OKX announced that it is reentering the US market.

According to an April 16 blog post, OKX will return to the United States market along with the appointment of former Barclays director Roshan Robert as its US CEO. Robert said in the post:

“Today, I’m thrilled to announce the launch of OKX’s centralized crypto exchange and OKX Wallet in the United States, alongside the establishment of our regional headquarters in San Jose, California.“

All existing Okcoin users will be migrated to the new platform, which Robert said will lead to a better overall experience. The promised improvements include deeper liquidity, lower fees and advanced trading tools.

Source: OKX

Related: Standard Chartered and OKX pilot crypto, tokenized fund collaterals

Step by step

OKX will not roll out the upgrade in one shot. Instead, the new platform will take a phased approach to onboard new customers. The exchange plans to follow the cautious approach with a nationwide launch later in 2025.

“We’re beginning with a phased rollout for new customers to ensure a smooth and secure onboarding process, with a broader nationwide launch planned later this year,“ Robert said.

OKX also promised integrations with local banks and support for major assets, including Bitcoin (BTC), Ether (ETH), USDt (USDT) and USDC (USDC). Robert noted that the company maintains a global proof of reserves for all its assets, which is published monthly by cybersecurity firm Hacken.

Dmytro Yasmanovych, compliance services lead at Hacken, told Cointelegraph that its team expands upon simple proof of reserves by validating OKX’s liabilities by reconstructing and verifying their zk-STARK circuit using official tools and reviewing 21,000 user proof files individually. The firm also verifies wallet control by the company by checking signatures.

In addition to its trading platform, the firm is also rolling out OKX Wallet to its US-based customers. The wallet supports 130 blockchains and features a decentralized exchange (DEX) aggregator, allowing access to over 10 million tokens on platforms including Ethereum, Solana and Base.

Related: Malta regulator fines OKX crypto exchange $1.2M for past AML breaches

OKX gets out of US troubles

The report follows OKX hiring former New York Governor Andrew Cuomo to advise it over a federal probe that resulted in the firm pleading guilty to several violations and agreeing to pay $505 million in fines and penalties.

The exchange admitted on Feb. 24 to operating an unlicensed money-transmitting business in violation of US Anti-Money Laundering laws. As a consequence, OKX agreed to pay $84 million worth of penalties while forfeiting $421 million worth of fees earned from primarily institutional clients.

After the investigation concluded, OKX said it would seek out a compliance consultant to remedy the problems revealed by the federal probe and improve its compliance efforts. OKX’s CEO Star Xu wrote in a Feb. 24 X post:

“Our vision is to make OKX the gold standard of global compliance at scale across different markets and their respective regulatory bodies.”

OKX had not responded to Cointelegraph’s request for comment by publication time

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Update April 16, 10:50 am UTC: This article has been updated to clarify the relationship between Astar and Soneium.

Astar, a Japanese Web3 adoption collective bridging Astar Network and Soneium, said it has slashed Soneium’s blockchain finality time by over 98%, as it aims to solve one of the biggest challenges in blockchain scalability.

Astar announced a strategic partnership with AltLayer and EigenLayer, to launch a “Fast Finality Layer” for Soneium, a Layer-2 (L2) blockchain network developed by Sony Block Solutions Labs.

In blockchain settlement, finality is the assurance that a transaction is irreversible, which happens after it is added to a block on the blockchain ledger.

The new finality layer provides a crypto-economic security guarantee through a decentralized network of validators to reduce the reliance on centralized sequencers and enable more secure crosschain interactions.

Soneium, ALtLayer, EigenLayer partnership. Source: Astar Network

This could result in a sub-10-second transaction finality for Soneium, a 98% reduction from its initial 15-minute finality, which was achieved through Optimism’s OP Stack, according to an announcement shared with Cointelegraph.

The new validator network will be secured by both restaked Ether (ETH) and Astar (ASTR) tokens.

Reducing blockchain finality is key for enabling more advanced decentralized finance (DeFi) use cases and improving developer and user experience, since most solutions experience finality delays from 15 minutes to several days, according to Maarten Henskens, head of Astar Foundation.

The new partnership is a “crucial step toward secure, high-speed, crosschain interoperability,” he told Cointelegraph, adding:

“It’s a foundational improvement in UX and trust: users no longer need to wait or “double-check” if a transaction will be reversed, and developers can confidently build real-time, interactive applications without worrying about delayed finality.”

“This milestone is just the beginning — and there’s a much larger story unfolding around how fast finality will reshape developer UX, DeFi, and crosschain experiences,” he added.

L2s by blockchain finality time. Source: L2beat 

Arbitrum One is currently the fastest blockchain, with an average finality time of one minute, the same as Coinbase’s Base L2 network, both relying on optimistic rollups, L2beat data shows.

Related: Crypto lending down 43% from 2021 highs, DeFi borrowing surges 959%

Blockchain L2 finality a key bottleneck for adoption

Solving blockchain finality remains the biggest barrier to mainstream Web3 adoption, according to YQ Jia, CEO of AltLayer.

“By combining EigenLayer’s restaking with MACH validation and support from Astar Network, we’re creating an infrastructure that offers the best of both worlds — Ethereum’s security guarantees with near-instant finality,” Jia said. “This is exactly the kind of solution needed to bring blockchain technology to mainstream adoption.”

Related: Kraken rolls out ETF and stock access for US crypto traders

EigenLayer has sought to advance mainstream blockchain adoption since it launched.

In February 2025, EigenLayer and blockchain protocol Cartesi launched a new initiative to find the next key prototype consumer application with new use cases that may bolster mainstream crypto adoption.

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Bitcoin (BTC) faces an uphill struggle as a safe haven in 2025 as gold fund inflows circle $80 billion.

Data from Bank of America (BoA) uploaded to X by trading resource The Kobeissi Letter on April 15 confirms gold’s “best streak” since 2013.

Gold beats records as Bitcoin ETFs slump

As the US trade war sees investors flee to gold, Bitcoin has lost the limelight as a hedge against macroeconomic volatility.

BoA figures show inflows to gold funds beating records, with data from Cointelegraph Markets Pro and TradingView capturing new all-time highs for XAU/USD near $3,300 per ounce on April 16.

“Gold fund net inflows have hit a record $80 BILLION year-to-date. This is 2 TIMES more than the previous high set in the full year 2020,” Kobeissi noted. 

“Investors are pouring money into gold at a record pace as the market uncertainty has skyrocketed. As a result, gold prices have rallied 22% year-to-date and have outperformed every other major asset class.”

Gold fund flows chart. Source: The Kobeissi Letter/X

BTC price action, by contrast, paints a very different picture. Despite the appearance of the US spot Bitcoin exchange-traded funds (ETFs) and growing global integration, BTC/USD reached five-month lows earlier in April.

Data from onchain analytics platform Glassnode calculates that the ETFs’ combined assets under management fell from $106 billion at the start of the year to $92 billion this week.

“Gold prices have also hit 52 all-time highs over the last year, posting the best streak in 12 years,” Kobeissi concluded. 

“Gold is the global safe haven.”

US spot Bitcoin ETF balances. Source: Glassnode

Gold “terminal top” meets Bitcoin bulls

Despite its repeated new records, market commentators already see gold’s unprecedented upside coming to an end.

Related: Can 3-month Bitcoin RSI highs counter bearish BTC price ‘seasonality?’

Addressing the topic on X this week, veteran trader Peter Brandt called a “blow-off top” on XAU/USD.

“Gold has now entered its blow-off stage,” he summarized. 

“Such rapid advancement will come to a terminal top, but attempting to pick a high can be very expensive. Blow off tops can extend well beyond a bear’s ability to meet margin calls.”

XAU/USD 1-day chart. Source: Peter Brandt/X

A gold comedown may well leave room for Bitcoin to catch up, per a popular theory that says that BTC/USD copies gold trends with a delay of several months.

Great chart from my Partner, David Foley.Shows how Gold moves first, Bitcoin follows harder. Scale different for each.@DAAF17 pic.twitter.com/jHMe6apewj

— Lawrence Lepard (@LawrenceLepard) April 13, 2025

“Nobody really knows why that happens,” Professional Capital Management founder and CEO Anthony Pompliano told CNBC on April 15.

Pompliano suggested that traditional financial entities were either unauthorized or simply “not used” to the idea of Bitcoin as protection against macro uncertainty.

“What we do see though is that when gold runs, about 100 days later or so, Bitcoin not only catches up; it usually runs much harder, and so you get that higher volatility,” he said.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin could be heading into another extended consolidation phase, with short-term indicators suggesting a more bearish outlook, contrary to the broader crypto community’s view, according to the head of research at 10x Research.

While many crypto analysts predict new Bitcoin (BTC) all-time highs by June, Markus Thielen said in an April 14 markets report that he is skeptical, pointing out that onchain data signals “more of a bear market environment than a bullish one.”

Short-term indicators signal potential market top

Thielen said the Bitcoin stochastic oscillator — which compares a particular closing price to a range of prices over a specific period to determine momentum — shows patterns “more typical of a market top or late-cycle phase rather than the early stages of a new bull run.”

Bitcoin is trading at $83,810 at the time of publication. Source: CoinMarketCap

“As a result, short-term signals are not aligning with longer-term indicators, highlighting the disconnect in the market outlook,” Thielen said.

“Bitcoin is no longer a parabolic ‘Long-Only’ retail-driven market,” he added, explaining it now “demands a more sophisticated, finance-oriented approach.”

“Bitcoin’s rally over the past year hasn’t been driven by typical ‘crypto-bro’ speculation but by long-term holders seeking diversification and adopting a buy-and-hold strategy,” Thielen said. 

Over the past 12 months, Bitcoin is up 32.80% and is trading at around $83,810 at the time of publication, according to CoinMarketCap.

Bitcoin price action may repeat 2024 pattern

Thielen reiterated his stance that Bitcoin may consolidate for an extended period, much like it did in 2024. 

“Despite our cautious optimism, we view Bitcoin as trading within a broad range of $73,000 to $94,000, with a slight upward bias,” he said.

In March 2024, Bitcoin reached its then-all-time high of $73,679 before entering a consolidation phase, swinging within a range of around $20,000 until Donald Trump won the US elections in November.

Related: Bitcoin price recovery could be capped at $90K — Here’s why

Many crypto analysts are eyeing June as the month when Bitcoin could surpass its current all-time high of $109,000, which it reached in January just before Trump’s inauguration.

Swan Bitcoin CEO Cory Klippsten told Cointelegraph in early March that “there’s more than 50% chance we will see all-time highs before the end of June this year.”

Sharing a similar view, Bitcoin network economist Timothy Peterson and Real Vision chief crypto analyst Jamie Coutts have also marked June as when Bitcoin could reach a new high.

“It is entirely possible Bitcoin could reach a new all-time high before June,” Peterson said.

Meanwhile, Coutts said, “The market may be underestimating how quickly Bitcoin could surge – potentially hitting new all-time highs before Q2 is out.”

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Chipmaking giants Nvidia and AMD have seen their share prices slide in after-hours trading after Nvidia said US restrictions on artificial intelligence chips to China would cause it to face major costs.

Nvidia stated in an April 15 regulatory filing that it is expecting around $5.5 billion in charges associated with its AI chip inventory due to significant export restrictions imposed by the US government affecting the company’s business with China. 

Nvidia said that the US government informed it on April 9 that export licenses are now required for its popular H20 integrated circuits and any chips with similar bandwidth capacity.

“First quarter results are expected to include up to approximately $5.5 billion of charges associated with H20 products for inventory, purchase commitments, and related reserves.”

The restrictions specifically mention China, Hong Kong and Macau, and the government indicated that the license requirement “addresses the risk that the covered products may be used in, or diverted to, a supercomputer in China.” 

The H20 is the most advanced AI chip Nvidia can export to China under previous export rules. Government officials have been calling for stronger export controls on the chip, which was reportedly used to train models from China-based AI startup DeepSeek. 

The Trump administration initially put the restrictions on hold following President Donald Trump’s meeting with Nvidia CEO Jensen Huang earlier this month, NPR reported. 

Related: Nvidia’s stock price forms ’death cross’ — Will AI crypto tokens follow?

On April 14, Nvidia announced that it would spend hundreds of millions of dollars over the next four years manufacturing some AI chips in the US. 

However, that has not prevented the stock slump in light of the latest filing and predicted impact on its upcoming revenue report. “Truly no company is safe from tariffs,” commented the Kobeissi Letter. 

Nvidia’s first quarter of fiscal year 2026 ends on April 27.

Nvidia, AMD stocks slump after hours 

Shares in Nvidia (NVDA) fell 6% in after-hours trading on April 15 to $105, according to Google Finance.

Nvidia’s share price is down 22% so far this year, slumping in a wide market rout caused by Trump’s escalating trade war and tariff threats. 

NVDA price tanks in after-hours trading. Source: Google Finance

Rival chipmaker Advanced Micro Devices (AMD) saw a similar share price drop, falling more than 7% to $88.55 in after-hours trading. AMD shares have declined by more than 25% since Jan. 1. 

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Brazilian fintech firm Meliuz has floated a plan to expand its Bitcoin holdings and make the cryptocurrency a strategic asset on the company’s books.

Meliuz, which provides cashback and financial technology services, is taking the plan to make Bitcoin (BTC) the primary strategic asset in the firm’s treasury to shareholders in a meeting slated for May 6, according to a translated April 14 statement.

The company said its core business will remain unchanged, but “the generation of cash from operations is fundamental to the strategy of acquiring more Bitcoin over time.” 

If shareholders approve the measure, Bitcoin will be adopted as the firm’s main strategic treasury asset, but it will also look to foster “the incremental generation of Bitcoin for its shareholders, whether through the generation of operating cash or through possible financial transactions and strategic initiatives.” 

Shareholders who disagree with the new direction and held their shares before April 14 can request reimbursement. 

Meliuz shares jump on Bitcoin plan

In the trading session after its new Bitcoin plan was announced, Meliuz (CASH3) jumped over 14% from 3.28 Brazilian reals ($0.56) to 3.76 Brazilian reals ($0.64) on the Brazilian Stock Exchange, according to Google Finance.

In total, Meliuz’s share price has spiked up over 27% in the last five days to 3.85 Brazilian reals ($0.65).

Meliuz’s share price has risen over 27% in the last five days, including a 14% spike after its new Bitcoin plan was revealed. Source: Google Finance 

Meliuz purchased Bitcoin for the first time in March after its board of directors approved using up to 10% of the company’s cash for Bitcoin, purchasing 45 BTC for about $4.1 million.

Related: Corporate Bitcoin treasuries drop more than $4B on US tariff hike impact

The amount of Bitcoin held on the books of publicly traded companies rose by 16.1% in the first quarter of 2025, according to Bitwise. Public companies bought around 95,431 Bitcoin over the quarter, increasing the total holdings across all company’s balance sheets to around 688,000. 

Meliuz was among 12 firms that added Bitcoin to their balance sheets for the first time in Q1 20025, joining the likes of video-sharing platform Rumble.

Michael Saylor’s digital asset firm, Strategy, has also continued its long-term strategy of acquiring more Bitcoin with its most recent April 14 purchase consisting of 3,459 Bitcoin bought for $285.5 million. 

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Local governments in China are reportedly seeking ways to offload seized crypto while facing challenges due to the country’s ban on crypto trading and exchanges.

The absence of clear rules on how authorities should manage seized cryptocurrency has led to “inconsistent and opaque approaches,” which some lawyers fear could open the door to corruption, according to an April 16 report by Reuters.

Chinese local governments are using private companies to sell seized cryptocurrencies in offshore markets in exchange for cash to replenish public coffers, Reuters reported, citing transaction and court documents. 

The local governments reportedly held approximately 15,000 Bitcoin (BTC) worth $1.4 billion at the end of 2023, and the sales have been a significant source of income.

China holds an estimated 194,000 BTC worth approximately $16 billion and is the second largest nation Bitcoin holder behind the US, according to Bitbo. 

Zhongnan University of Economics and Law professor Chen Shi told Reuters that these sales are a “makeshift solution that, strictly speaking, is not fully in line with China’s current ban on crypto trading.”

Countries and governments that hold BTC. Source: Bitbo

The issue has been exacerbated by a rise in crypto-related crime in China, ranging from online fraud to money laundering to illegal gambling. Additionally, the state sued more than 3,000 people involved in crypto-related money laundering in 2024. 

China crypto reserve floated as solution

Shenzhen-based lawyer Guo Zhihao opined that the central bank is better positioned to deal with seized digital assets and should either sell them overseas or build a crypto reserve.

Ru Haiyang, co-CEO at Hong Kong crypto exchange HashKey, echoed the suggestion saying that China may want to keep forfeited Bitcoin as a strategic reserve as US President Donald Trump is doing. 

Related: Bitcoin rebounds as traders spot China ‘weaker yuan’ chart, but US trade war caps $80K BTC rally

Creating a crypto sovereign fund in Hong Kong, where crypto trading is legal, has also been proposed.

This issue has gained attention amid rising US-China trade tensions and Trump’s plans to regulate stablecoins and foster growth and innovation in the crypto industry.

Several industry observers have suggested that China’s tariff response could result in a devaluation of the local currency, which may result in a flight to crypto. 

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Ethereum co-founder Vitalik Buterin believes that privacy should be a top priority for developers, warning that assumptions about transparency and good intentions in global politics are overly optimistic.

In an April 14 blog post, Buterin argued that privacy is essential to maintain individual freedom and protect against the growing power of governments and corporations. He criticized the idea that increased transparency is inherently beneficial, saying it relies on assumptions about human nature that are no longer valid.

These assumptions include believing that global political leadership is “generally well-intentioned and sane,” and that social culture continues to progress in a positive direction.” Both are proving to be increasingly untrue, Buterin argued.

Buterin claimed there was “no single major country for which the first assumption is broadly agreed to be true.” Furthermore, he wrote that cultural tolerance is “rapidly regressing,” which is reportedly demonstrable by an X post search for “bullying is good.”

Buterin’s personal privacy issues

Buterin said that he found his lack of privacy unsettling at times. He added:

“Every single action I take outside has some nonzero chance of unexpectedly becoming a public media story.”

Covertly taken photos of Vitalik Buterin. Source: Vitalik.eth

While this may appear as a suggestion that privacy is an advantage only for those who venture outside the social norms, he highlighted that “you never know when you will become one of them.”

Buterin only expects the need for privacy to increase as technology develops further, with brain-computer interfaces potentially allowing automated systems to peer directly into our brains. Another issue is automated price gouging, with companies charging individuals as much as they expect them to be able to pay.

Related: Messaging apps are spying on you — Here’s how to stay safe in 2025

There is no privacy with government backdoors

Buterin also argued strongly against the idea of adding government backdoors to systems designed to protect privacy. He said such positions are common but inherently unstable.

He highlighted how, in the case of Know Your Customer data, “it’s not just the government, it’s also all kinds of corporate entities, of varying levels of quality” that can access private data. Instead, the information is handled and held by payment processors, banks, and other intermediaries.

Similarly, telecommunication companies can locate their users and have been found to illegally sell this data. Buterin also raised concerns that individuals with access will always be incentivized to abuse it, and data banks can always be hacked. Lastly, a trustworthy government can change and become untrustworthy in the future, inheriting all the sensitive data. He concluded:

“From the perspective of an individual, if data is taken from them, they have no way to tell if and how it will be abused in the future. By far the safest approach to handling large-scale data is to centrally collect as little of it as possible in the first place.“

Related: Privacy will unlock blockchain’s business potential

Authorities have more data than ever

Buterin raised the issue of governments being able to access anything with a warrant “because that‘s the way that things have always worked.” He noted that this point of view fails to consider that historically, the amount of data available for obtaining through a warrant was far lower.

He said the traditionally available data would still be available even “if the strongest proposed forms of internet privacy were universally adopted.” He wrote that “in the 19ᵗʰ century, the average conversation happened once, via voice, and was never recorded by anyone.”

Buterin’s proposed solutions

Buterin suggested solutions based mainly on zero-knowledge proofs (ZK-proofs) because they allow for “fine-grained control of who can see what information.” ZK-proofs are cryptographic protocols that allow one party to prove a statement is true without revealing any additional information.

One such system is a ZK-proof-based proof of personhood that proves you are unique without revealing who you are. These systems rely on documents like passports or biometric data paired with decentralized systems.

Another solution suggested is the recently launched privacy pools, which allow for regulatory-compliant Ether (ETH) anonymization. Buterin also cited on-device anti-fraud scanning, checking incoming messages and identifying potential misinformation and scams.

These systems are proof of provenance services for physical items using a combination of blockchain and ZK-proof technology. They track various properties of an item throughout its manufacturing cycle, ensuring the user of its authenticity.

The post follows Buterin’s recent privacy roadmap for Ethereum. In it, he highlighted the short-term changes to the base protocol and ecosystem needed to ensure better user privacy.

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Developers behind the Ethereum layer 2 Aztec Network have launched a whistleblowing platform called StealthNote that allows workers to vent about their employer without revealing themselves.

StealthNote uses zero-knowledge proofs to prove that posts on its platform are written by someone with access to an email address of the company that they’re reviewing.

Aztec Labs developer Saleel Pichen wrote in an April 14 X post that StealthNote creates a zero-knowledge proof of a Google JSON Web Token, which is used to authenticate users and allows the platform to prove a poster owns “an email from a company domain without revealing any personal info.”

Two of the latest posts on StealthNote from personnel at Aztec Labs and Cornell University. Source: StealthNote.xyz

According to Aztec’s documentation, the privacy solution had been in development since at least Oct. 22, while the first test post from Aztec occurred about three months ago.

Workers from Ethereum Foundation, StarkWare and Scroll, as well as Columbia and Cornell universities, have made posts on StealthNote, primarily sharing greetings and voicing their support for privacy solutions.

“Let’s make privacy cool again,” a worker from Nim Network wrote.

ZK-proofs needed more than ever, says Buterin

ZK-proofs have become an increasingly used privacy solution in the internet age as concerns over data security and government surveillance continue to grow.

The concerns were raised in an April 14 blog post by Ethereum co-creator Vitalik Buterin, who criticized the assumption that governments are generally well-intentioned when it comes to sacrificing privacy for a more “transparent society.” 

Related: Vitalik Buterin unveils roadmap for Ethereum privacy

He championed ZK-proofs as a solution to mitigate this trade-off, highlighting the technology’s ability to provide “fine-grained control of who can see what information.”

Related: Vitalik Buterin unveils roadmap for Ethereum privacy

The privacy-focused Aztec Network launched on Ethereum in February 2020. 

The firm raised $100 million in Series B funding led by the tech-focused venture capital firm Andreessen “a16z” Horowitz in December 2022, with A Capital and King River also contributing.

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Healthcare technology firm Semler Scientific has reported paper losses on its Bitcoin holdings over the first quarter of this year as the cryptocurrency saw a heavy correction. 

The firm reported a preliminary unrealized loss from the change in fair value of Bitcoin holdings of approximately $41.8 million since Dec. 31, according to a filing with the Securities and Exchange Commission on April 15.

Semler declared holdings of 3,182 Bitcoin (BTC) valued at around $263.5 million as of March 31. During the three-month period, BTC prices fell 12% from $93,500 at the beginning of January to $82,350 by the end of March. The full correction from its all-time high to the low below $75,000 on April 7 stands at 32%. 

Semler reported expected revenues of $8.8 to $8.9 million and operational losses of $1.3 to $1.5 million for the period. It held cash and cash equivalents of approximately $10 million as of March 31.

In November, Semler Scientific CEO Doug Murphy-Chutorian said, “We remain laser-focused on acquiring and holding Bitcoin while supporting innovation and growth in our healthcare business.” 

Semler is the twelfth largest corporate holder of BTC, ahead of Hong Kong gaming firm Boyaa Interactive International Limited, according to Bitbo data. 

Semler also reported that it had reached an agreement in principle to pay almost $30 million to settle claims related to a civil investigation by the Department of Justice.

Semler floats $500 million securities sale 

In a separate April 15 SEC filing, the firm outlined its plan to offer and sell securities worth up to $500 million, in part to continue its Bitcoin acquisition strategy.

Related: Healthcare tech firm Semler buys 871 Bitcoin, yield tops 150%

“We may offer and sell securities from time to time in one or more offerings, up to an aggregate value of $500,000,000,” it stated. Semler’s common stock is listed on the Nasdaq under the symbol SMLR.

“Our stock price has been volatile and may continue to be volatile,” the firm cautioned. Shares in the medical firm have fallen 36% since the beginning of 2025. 

SMLR price year-to-date. Source: Google Finance

Semler intends to use the net proceeds from the securities sale “primarily for general corporate purposes, including the acquisition of Bitcoin,” it revealed. 

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